Underwriting loss driven by increase in non-catastrophe losses from several lines, including personal auto. Private U.S. property/casualty insurers saw a $5.6 billion net underwriting loss in the first nine months of 2021, as non-catastrophe losses returned to pre-pandemic levels, according to a report by Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property […]
Crash Champions Acquires Collision Repair Center in Billings, Montana
Crash Champions, LLC announced today that it has grown its presence in Montana through the acquisition of American Auto Body, a single shop located at 650 S. 20th St. W. in Billings, Mont. This transaction follows the Company’s entry into Big Sky Country through the acquisition of Raisin, a five-location shop with properties extending from […]
State Farm and Ford Announce Usage-Based Insurance Program Debuts in Four States Additional States
State Farm and Ford announced the launch of Drive Safe & Save Connected Car for customers with eligible connected Ford or Lincoln vehicles, to benefit from usage-based insurance (UBI). State Farm customers with eligible connected vehicles can opt into the State Farm UBI program, Drive Safe & Save, which adjusts premiums to an individual vehicle’s […]
I-CAR Joins List of Northeast Trade Show Seminar Presenters
The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) announced that I-CAR’s Paul Hill, Principal, Business Development North East Region at I-CAR, and Bud Center, I-CAR Director, Technical Products and Curriculum, have been added to the highly anticipated educational slate at the NORTHEAST 2022 Automotive Services Show taking place March 18-20 at the Meadowlands […]
AirPro Diagnostics Secures Strategic Partnership with BASF
AirPro Diagnostics announced it has been awarded strategic partner status with BASF ColorSource. “Knowing that more and more vehicles with unique ADAS technology are entering our customers shops we went to work to research this field and identify the best solution for our customers”, stated Sally Miener, BASF ColorSource and Partner Program Manager. “We chose […]
Allstate and Enterprise Support Schools Through Collision Repair Education Foundation
Collision repair schools in Illinois, Massachusetts and South Carolina benefit from industry support. The Collision Repair Education Foundation (CREF) announced that six schools will receive Collision School Career Readiness Benchmark Grants. Allstate is providing a $10,000 grant to Thornton Fractional High School Center for Academics and Technology, located in Calumet City, Ill., to improve its […]
AASP/NJ to Award a Total of $5,000 to Attendees of Northeast Trade Show
The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) announced it will award a total of $5,000 in Northeast Dollars – $500 each to 10 lucky attendees – to be applied toward any purchase at the collision repair trade show, which is set for March 18-20 at the Meadowlands Exposition Center (MEC) in Secaucus, […]
D’Ieteren Group Acquires Parts Holding Europe
D’Ieteren Group announces that it has issued a binding offer and entered into exclusive negotiations with Bain Capital Private Equity in view of acquiring 100% of Parts Holding Europe (PHE), a Western European leader in spare parts distribution and services for vehicles and trucks. The proposed transaction values PHE at an Enterprise Value of €1.7 […]
Toyota Announces $90 million Investment in Two U.S. Plants to Further Expand Electric Vehicle Production
Toyota announced an additional $90 million investment for two of its U.S. manufacturing facilities. Toyota West Virginia (TMMWV) will receive $73 million. This investment comes on the heels of the $240 million investment announced last November and will increase hybrid transaxle production capacity to 600,000 units per year. With this funding, TMMWV will also begin […]
Consumer Sentiment Down to 2011 Levels
Preliminary results for February show sentiment down over 8% from January and nearly 20% from last year. Consumer sentiment continued its downward descent in early February, reaching its worst level in a decade, falling a stunning 8.2% from last month and 19.7% from last February according to preliminary results released this morning by the University […]
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